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ASIAN TSUNAMI
Following the Asian Tsunami of 2004, which killed more than 230,000 people in 14 countries, markets in Indonesia and India ended the trading week after the tsunami over 1 percent higher, while the Thai and Malaysian markets were little changed. -
KATRINA STRIKES
Another major disaster, Hurricane Katrina, that hit New Orleans in August 2005 and killed more than 1,300 people, was not only one of the most deadly hurricanes in history, but also one of the costliest. It is estimated that the cost to the US economy of Hurricane Katrina was $45.15 billion, according to the Insurance Information Institute. Around 400,000 jobs were lost, economic growth for the second half of the year was trimmed by a full percentage and oil supplies were severely affected. Bu -
2006 slowdown
Economic growth and job growth both fell in 2006 from previous years as the residential housing boom came to an end. The slowdown in employment growth and economic opportunity was home grown as consumers saw rising debt payments on the record debt built up in past years. This debt squeeze leaves less money available for key household expenditures and is already beginning to push many hardworking families over the edge amid rising loan defaults and bankruptcies. -
great recession
It was a major global recession characterised by various systemic imbalances, and was sparked by the outbreak of the U.S. subprime mortgage crisis and financial crisis of 2007–08. The economic side effects of the European sovereign debt crisis, austerity, high levels of household debt, trade imbalances, high unemployment, and limited prospects for global growth in 2014, continue to provide obstacles for many countries to achieve a full recovery from the recession.[22][23][24] -
2008 world economics
The last months of 2008 witnessed what is being called the worst financial crisis since the Great Depression of 1929-30. The first indications of a serious crisis appeared in January 2008. On 15 January, news of a sharp drop in the profits of the Citigroup banking led to a sharp fall on the New York Stock Exchange. On 21 January a spectacular fall in share prices occurred in all major world markets, followed by a series of collapses. A number of American and European banks declared massive -
world disasters
According to EM-DAT, 399 natural disasters occurred in 2009 worldwide, killing almost 16,000 people and affecting over 220 million people. The estimated amount of economic damage came close to US$50 billion. -
Haiti
In January 2010, Haiti was hit by its worst earthquake in 200 years, which killed 316,000 people. An Inter-American Development Bank study estimated that the total cost of the disaster was up to $14 billion, but global markets did not take a big hit on the day of the quake. The Dow actually finished the day slightly higher. -
volcano
The eruption of the Eyjafjallajoekull volcano in Iceland on April 15, 2010, forced the closing of European air space for a week. Airlines requested aid from the European Union to help them deal with the economic disaster. According to the IATA (the International Air Transport Association), companies saw about $1.7 billion of business lost from the eruption. The ash cloud forced the cancellation of 30 percent of scheduled flights, affecting an average of 1.2 million passengers a day. -
hurricane sandy
In 2012, Hurricane Sandy was the costliest event, resulting in an estimated insured loss of $28.2 billion, combining private insurers and government-sponsored programs with approximately $65 billion worth of economic loss between the United States, Canada, the Bahamas and the Caribbean. -
2013 economics
Natural disasters cost a total of $192 billion in 2013, according to research from Impact Forecasting, a division of reinsurance company Aon Benfield.Last year, about 84 percent of economic losses happened outside of the United States, well above the 2003-2012 average of 65 percent. The most expensive event in the U.S. was an EF-5 tornado that hit the city of Moore, Okla., in May -- it cost about $3.8 billion in economic losses. -
predicting the 2014 future
The doomsday clock will ring then because the U.S. economy may fully crash around that date, which will, in turn, bring down all world economies and all hope of any recovery for the foreseeable future — certainly over the course of most of our lifetimes.
Interest rates will skyrocket, businesses will fail, unemployment will go to record levels, material and food shortages will be rampant, and there could be major social unrest.